Berkadia Arranges $20.4M Refinancing for Five-Property Apartment Portfolio in South Florida

MIAMI BEACH AND BAY HARBOR ISLANDS, FLA. — Berkadia has arranged a $20.4 million bridge loan for the refinancing of five apartment communities located in South Florida’s Miami Beach and Bay Harbor Island. Charles Foschini, Christopher Apone and Shannon Wilson of Berkadia arranged the two-year, floating-rate loan through LoanCore Capital Funding Corp. LLC on behalf of the borrower, Boardwalk Properties. The properties included in the 108-unit portfolio are: 1600 and 1606 W. Ave. in Miami Beach; 9200, 9270, 10150 and 10190 E. Bay Harbor Drive in Bay Harbor Islands, and 1075 101st St., also in Bay Harbor Islands.